GLP-1 Receptor Agonist Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | Novo Nordisk A/S, Sanofi SA, Eli Lilly and Company, AstraZeneca Inc., Boehringer Ingelheim International GmbH, Hanmi Pharm Co. Ltd

"The glp-1 receptor agonist market size has grown steadily in recent years. It will grow from $13.1 billion in 2023 to $13.74 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to rising diabetes prevalence, clinical efficacy, patient awareness and acceptance,global health initiatives, patient preference for injectable therapies..

The glp-1 receptor agonist market size is expected to see strong growth in the next few years. It will grow to $16.82 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to increasing emphasis on lifestyle management, growing personalized medicine approaches, expanding indications, development of next-generation products, integration into combination therapies.. Major trends in the forecast period include introduction of oral formulations, focus on combination therapies, strategic partnerships and collaborations, reimbursement policies and access, patient-centric approaches..

Market Overview -
A GLP-1 receptor agonist is a type of medication that stimulates insulin release at high blood glucose levels and suppresses glucagon secretion under low blood glucose conditions. They are used to treat type 2 diabetes mellitus.

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Surging Diabetes Cases Fuel Growth In Glp-1 Receptor Agonist Market
The rising prevalence of diabetes is expected to propel the GLP-1 receptor agonist market going forward. Diabetes is a chronic illness that develops when the pancreas either produces insufficient amounts of insulin or when the body cannot properly utilize the insulin that it does. High blood sugar is a symptom of the metabolic disorder diabetes mellitus. GLP-1 receptor agonist is used in diabetes to stimulate the body to produce more insulin, which helps to lower blood sugar levels, so the rising prevalence of diabetes will propel the market growth. For instance, in December 2021, according to the International Diabetes Federation, a Belgium-based umbrella organization of over 230 national diabetes associations, the global population living with diabetes is approximately 537 million adults and further it is projected to rise to 643 million by 2030. Therefore, the rising prevalence of diabetes is driving the GLP-1 receptor agonist market.

Competitive Landscape -
Major companies operating in the glp-1 receptor agonist market report are Novo Nordisk A/S, Sanofi SA, Eli Lilly and Company, AstraZeneca Inc., Boehringer Ingelheim International GmbH, Hanmi Pharm Co. Ltd., Pfizer Inc., Amgen Inc., Innovent Biologics Inc., Jiangsu Hengrui Medicine Co., Sun Pharmaceuticals Industries Ltd., 9 Meters Biopharma Inc., Intarcia Therapeutics Inc., Amylin Pharmaceuticals Inc., PegBio Co. Ltd., Zealand Pharma A/S, Bristol-Myers Squibb Company, Chongqing Lummy Pharmaceutical Co. Ltd., CymaBay Therapeutics Inc., Daiichi Sankyo Company Limited, Dong-A ST Co. Ltd., Eisai Co. Ltd., Genentech Inc., GlaxoSmithKline plc, HanAll Biopharma Co. Ltd., Ipsen SA, Johnson & Johnson, Kowa Company Ltd., LG Chem Ltd., Ligand Pharmaceuticals Incorporated, Merck & Co. Inc., Novartis AG .

Innovative Breakthroughs Transform The Glp-1 Receptor Agonist Market
Product innovations are a key trend gaining popularity in the GLP-1 receptor agonist market. Major companies operating in the GLP-1 receptor agonist market are focused on developing innovative solutions to strengthen their position. For instance, in May 2022, Eli Lilly and Company, a US-based pharmaceutical company that creates medicines that make life better for people, launched the FDA-approved new Mounjaro, a GIP and GLP-1 receptor agonist. It is specially designed using a single molecule that turns on the body's receptors for the incretin hormones GIP and GLP-1. It is available as a pen auto-injector with a pre-attached, hidden needle that patients do not need to handle or see, and it comes in 6 doses.

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Key Segments -
The glp-1 receptor agonist market covered in this report is segmented -
1) By Drug Class: Exenatide, Liraglutide, Dulaglutide, Lixisenatide, Other Drugs
2) By Route Of Administration: Parenteral, Oral
3) By End Users: Hospitals, Surgical Clinics, Other Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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